Monday, October 7, 2024

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Automotive, Transportation and Warehousing Automotive and Automotive Components Thailand Used Car Market Outlook to 2025: Ken Research

Thailand Used Car Market Outlook to 2025: Ken Research

The report titled “Thailand Used Car Market Outlook To 2025 – Growth of Online Used Car Platforms and Easy Availability of Credit Escalating Industry’s Growth” provides a comprehensive analysis on the status of the used car industry in Thailand. The report covers various aspects including volume of used cars & market size, production scenario of new cars in the country, target audience, growth facilitators, issues & challenges faced by the industry, and other aspects. Thailand Used Car Industry report concludes with projections for future of the industry including forecasted sales revenue and volume by 2025, market segmentations, Covid-19 impact and analysts’ take on the future.

Thailand Used Car Market Overview and Size:

Thailand Used Car sector is in the maturity phase, growing at a CAGR of 1.8% during 2014-2020. Increasing demand for private vehicles, reduction in purchasing power, easy availability of finance, and increasing VAT on new cars are the main reasons behind positive growth in used car sales revenue. Another major driver is the drop in use of public transport due to the pandemic and need for private vehicle.

Thailand Used Car Market Segmentations

By Market Type (C2C, B2C/OEM, and Auction): B2C/OEM Organized market dominated the used car industry in Thailand in 2020 on

The basis of value and volume. The presence of major OEM is concentrated in the Bangkok, Vicinity and Tier-2/Tier-3 cities; However, Multibrand dealers are present throughout the country, both online and offline.

By Type of Car: 1 Ton pickup truck dominates the market. This is majorly due to the fact that it has both commercial and personal utility. Also, the taxes on these vehicles are low as compared to sedan and economical cars as majority of these vehicles are bought by farmers.

By Kilometers Driven: Cars with running of 80,000- 120,000 kilometers dominate the market. This is mainly due to the reason that 1 ton pickup trucks constitute the most of the market. As they have commercial usage the odometer reading in the vehicles of the country is quiet high.

By Ownership Period: Since the finance for used and new car is readily available in the country the ownership period of the cars has been decreasing. Majority of the market share is acquired by cars having age of 5-8 years

By Region: Used car are majorly concentrated in Bangkok due to higher purchasing power as compared to other regions. The Northeastern region has the second highest used car sales volume due to strong economic growth from increasing cross-border trade supported by the presence of special economic zones

Snapshot on Online Used Two Wheeler Landscape

The online used car market has been emerging with the rise in the popularity of e-commerce platforms in the country. The growth of online advertising, which has fuelled the rise of online classified platforms such as iCar Asia, Car Some, Carro and others have revolutionized the way in which pre-owned vehicles have been sold in the country. With the growth in the number of vehicles sold online, these players not only witnessed a sharp growth in marketplace revenue but also from other sources including advertisements, subscriptions and other value added services. The Overall Online Market is expected to Increase at a double Digit Positive CAGR during the period 2020-2025.

Competitive Landscape of Thailand Used Car Market

Used Car Market in Thailand has been dominated by B2C and OEM Dealerships which has captured a share of majority share in the sales volume of used cars during 2020. In the OEM segment, Toyota and Honda together account for majority of market. Both foreign as well as domestic companies are present in the market. These players compete on parameters such as proximity, value added services, prices, promotional offers and tie ups with major financial institution. In order to increase their revenue, the players offer free gifts and warranty as a part of promotion.

Thailand Used Car Future Outlook & Projections

The used car industry is expected to recover from the Covid-19 pandemic and witness growth by 2025. The increasing need for use of private vehicle in order to avoid public transport is expected to fuel the sales of used cars. The sales of economical cars are also expected to increase over the forecast period. The Used Car Market is expected to witness investment in promotional and marketing activities and also strategic partnerships of domestic and foreign players.

Interested to Know More about this Report, Request for a sample report

Key Segments Covered

By Market Type

C2C

B2C/OEM organized

Multi Brand Organized Dealer

Multi Brand Unorganized Dealer

OEM Organized

Auction

By Car Segment

Hatchback

1 ton pickup

Sedan

MPV, HPV/Mini MPV

SUV

By Region

Bangkok

North East

North

South

East

West

By Kilometers Driven

Less than 20,000

20,000-50,000

50,000-80,000

80,000-120,000

Above 120,000

By Age of Vehicle

Less than 1 year

1-3 years

3-5 years

5-8 years

More than 8 years

By Age of Buyers

20-30 Years

30-50 Years

Above 50 Years

By Source of Lead

Online (Social Media/Car Portals/Official Website)

Offline (Dealership Walk-in)

Companies Covered (OEM Dealerships)

Toyota Sure Thailand

Honda Used Certified Thailand

Mitsubishi Diamond Used Car

Nissan Intelligence

Mercedes Certified

Volvo

Companies Covered (Online Portals)

ICar Asia (One2Car, Thaicar, Autospinn)

Carsome Thailand

Carro Thailand

Key Target Audience

Used Car Companies

OEMs

Online Used Car Portals

Used Car Financing Companies

Government Bodies

Investors & Venture Capital Firms

Used Car Dealerships

Used Car Distributors Auction Houses

Used Car Associations

Time Period Captured in the Report:-

Historical Period – 2014-2020

Forecast Period – 2021-2025

Key Topics Covered in the Report

Executive Summary

Research Methodology

Thailand Used Car Market Overview

Thailand Used Car Market Size, 2014-2020

Thailand Used Car Market Segmentation, 2020

Growth Drivers in Thailand Used Car Market

Issues and Challenges in Thailand Used Car Market

Regulatory Framework

Snapshots on Used Car Financing

Snapshot on Auction Market

Snapshot on Used Bike Market

Ecosystem and Value Chain of Used Car Industry in Thailand

Customers Purchase Decision Making Parameters

Cross Comparison between Major OEMs and Multibrand Dealers and Company Profiles & Product Portfolios

Future Market Size and Segmentations, 2021-2025F

Covid-19 Impact on the Industry & the Way Forward

Analysts’ Recommendations

For More Information on the Research Report, refer to below links:-

Thailand Used Car Market

Related Reports by Ken Research

Indonesia Used Car Market Outlook to 2025 – By Market Structure (Organized & Unorganized), By Type of Car (MPVs, Hatchbacks, SUVs & Others), By Brand (Toyota, Honda, Daihatsu, Suzuki & Others), By Vehicle Age, By Mileage, By Customer Age and By Region (DKI Jakarta, East Java, West & Central Java, North Sumatera & Others)

Saudi Arabia Used Car Market Outlook to 2025- By Market Structure (Organized & Unorganized), By Type of Car (Sedans & Hatchbacks, SUVs & Crossovers, Pick-ups and Luxury), By Brand (Toyota, Hyundai, GMC & Chevrolet, Ford and Others), By Type of Sourcing, By Age of Vehicle (Less than 1 year, 1-3 years, 3-5 years & More than 5 years), By Kilometers Driven (Less than 50,000 Km, 50,000-80,000 Km, 80,000-120,000 Km & More than 120,000 Km) and By Region (Northern, Southern, Central, Eastern and Western)

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

RELATED ARTICLES

What Makes Activa 6G Red Colour Stand Out Style and Features Reviewed

The Honda Activa Scooty has been a popular choice in the Indian market for decades, and the new Activa 6G Red Colour has taken...

Car Rental Market Share: Understanding the Competitive Landscape

In the fast-paced world of transportation, the car rental market stands as a dynamic and indispensable sector, offering mobility solutions to individuals and businesses...

Used Vehicles Market: Major Players and Trends

In the ever-evolving landscape of transportation, the used vehicles market emerges as a dynamic and bustling sector, teeming with opportunities and challenges alike. From...

Most Popular

Navigating the Dynamic Landscape of the Smartphone Industry

The Smartphone industry stands at the forefront of technological innovation, shaping the way individuals communicate, work, and interact with the digital world. From cutting-edge...

US Food Allergen Testing Industry: Trends, Challenges, and Opportunities

The US Food Allergen Testing industry is a critical sector safeguarding public health by ensuring food safety and catering to the growing population with...

The Dynamics of the Coal Mining Market: Growth Drivers and Challenges

Introduction Coal mining serves as a cornerstone in fueling industries, generating electricity, and fostering economic growth worldwide. This article delves into various facets of the...

A Market Research Report on the Cosmeceuticals Industry in India

The Indian beauty landscape is witnessing a fascinating shift. Consumers are no longer just seeking products that enhance appearance; they are actively seeking solutions...